CyGeist (Pty) Ltd
CyGeist (Pty) Ltd is the first underwriting management agency (UMA) in South Africa dedicated solely to the provision of cyber insurance. Our unique position of having an in-depth understanding of both insurance and technology means we are well positioned to be the preferred provider of cyber insurance in Southern Africa.
Our product provides insurance cover for the following consequences of a network security and/or data privacy breach:
- Costs to restore or recover corrupted or destroyed information assets
- Network / business interruption
- Third party claims arising from compromised systems or data
- Crisis management and notification expenses
- Expenses of specialists, attorneys, forensic investigators, or loss adjusters
Data recovery and business interruption:
Provides coverage to respond to a loss of income and operating expenses experienced due to a network security breach. Will cover expenses of specialists, investigators, digital forensic auditors, or loss adjusters as well as costs to restore / recover data and operations, or costs incurred until such point in time where it is established that data can’t be recovered / restored.
Crisis management & notification expenses:
Provides coverage for costs to respond to a network security or privacy breach. Response costs could include notification expenses, costs to provide credit-monitoring or other remediation services to customers or impacted 3rd parties and public relations/crisis management expenses.
Privacy & network security liability:
Provides coverage for 3rd party claims due to a network security or privacy breach. Coverage would also be provided for associated regulatory fines and penalties.
In fact, we provide more than just insurance, but rather a holistic cyber risk management package encompassing an information centre, IT security risk assessments, incident response coaching and planning.
Visit our website for more information about us and our products and services.
FSP 4578 - Authorised Juristical Representative of Natsure Ltd - Underwritten by Guardrisk Insurance Company Limited, an authorised Financial Services Provider
Company Press Releases »
||Cyber insurance unpacked
07 Sep 15 | Read More »
In the event of a data breach how will cyber / data breach insurance respond?
By Ryan van de Coolwijk, director at CyGeist
In light of recent high profile data breaches and as more organisations begin contemplating the potential impact of a data or privacy breach, the ...
||Cyber versus Technology Professional Indemnity Insurance – Round 2
13 May 15 | Read More »
By Natalie van de Coolwijk, MD of CyGeist, a cyber-focused UMA
Our last article explored the high-level differences between professional indemnity and cyber insurance policies. A natural extension of this topic would be the question “Where is the overlap between ...
||Cyber & Professional Indemnity Insurance – Where’s the Overlap?
17 Apr 15 | Read More »
“We are noticing a rapidly growing interest in our cyber insurance offering, both by brokers and potential policyholders. ” This is according Natalie van de Coolwijk, MD of CyGeist, a cyber-focused UMA underwriting on behalf of Guardrisk. Natalie ...
||Five common cyber insurance questions
20 Feb 15 | Read More »
As the South African cyber insurance market develops and organisations contemplate taking out the cover, there are some frequent questions that arise. Natalie van de Coolwijk, MD of CyGeist, tackles 5 such questions in order to shed some insight on the topic. Cyber insurance– ...
||Cyber insurance: quantifying data breaches
28 Jan 15 | Read More »
Whilst general statistics on cybercrime and information security incidents are easy to come across, statistics relating to actual data breach costs are less readily available. Natalie van de Coolwijk from cyber-focused UMA CyGeist, which underwrites on behalf of Guardrisk, ...